Valaris (VAL) Set to Announce Quarterly Earnings on Thursday

Valaris (NYSE:VAL) is scheduled to announce its earnings results before the market opens on Thursday, October 31st. Analysts expect the company to announce earnings of $1.36 per share for the quarter. Investors interested in listening to the company’s conference call can do so using this link.

Valaris (NYSE:VAL) last issued its quarterly earnings results on Wednesday, July 31st. The company reported $2.03 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $1.07. Valaris had a return on equity of 12.58% and a net margin of 49.33%. The company had revenue of $610.10 million for the quarter, compared to analysts’ expectations of $545.00 million. On average, analysts expect Valaris to post $4 EPS for the current fiscal year and $11 EPS for the next fiscal year.

Valaris Trading Down 2.2 %

VAL opened at $49.25 on Thursday. The stock has a market capitalization of $3.57 billion, a price-to-earnings ratio of 4.31 and a beta of 1.15. The company has a quick ratio of 1.73, a current ratio of 1.73 and a debt-to-equity ratio of 0.49. Valaris has a twelve month low of $48.63 and a twelve month high of $84.20. The company has a 50-day simple moving average of $56.56 and a 200 day simple moving average of $66.98.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on VAL shares. Pickering Energy Partners cut shares of Valaris from an “outperform” rating to a “neutral” rating in a research note on Tuesday, July 16th. Benchmark lowered Valaris from a “buy” rating to a “hold” rating in a research note on Tuesday, October 15th. Barclays dropped their price objective on Valaris from $91.00 to $61.00 and set an “overweight” rating for the company in a research report on Wednesday. Citigroup decreased their target price on Valaris from $95.00 to $71.00 and set a “buy” rating on the stock in a research report on Thursday, September 12th. Finally, Susquehanna dropped their target price on shares of Valaris from $62.00 to $61.00 and set a “neutral” rating for the company in a report on Friday, October 11th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $81.33.

Insider Buying and Selling at Valaris

In related news, COO Gilles Luca sold 30,000 shares of the firm’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $56.86, for a total transaction of $1,705,800.00. Following the completion of the transaction, the chief operating officer now directly owns 108,342 shares of the company’s stock, valued at $6,160,326.12. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, SVP Davor Vukadin sold 15,403 shares of the company’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $56.64, for a total value of $872,425.92. Following the sale, the senior vice president now directly owns 13,334 shares of the company’s stock, valued at approximately $755,237.76. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Gilles Luca sold 30,000 shares of Valaris stock in a transaction on Monday, September 9th. The stock was sold at an average price of $56.86, for a total transaction of $1,705,800.00. Following the transaction, the chief operating officer now directly owns 108,342 shares of the company’s stock, valued at $6,160,326.12. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 71,403 shares of company stock worth $4,028,246. 0.12% of the stock is currently owned by company insiders.

Valaris Company Profile

Valaris Limited, together with its subsidiaries, provides offshore contract drilling services Gulf of Mexico, South America, North Sea, the Middle East, Africa, and the Asia Pacific. The company operates through four segments: Floaters, Jackups, ARO, and Other. It owns an offshore drilling rig fleet, which include drillships, dynamically positioned semisubmersible rigs, moored semisubmersible rig, and jackup rigs.